Cost-effective pitching alternatives

TORONTO -- What do Brandon Webb, Erik Bedard, Jeff Francis, Chris Young and Jeremy Bonderman have in common?

They've all had to recover from shoulder surgery on their throwing arms while in the midst of entering their prime. In some respects, it marks a new chapter in their careers, as they enter free agency under a cloud of uncertainty and a market place not kind to injured pitchers.

None of them are likely to find long-term job security, or anything much more significant than an incentive-laden contract. But a club's small investment has the potential to return moderate-to-high reward, providing each recaptures even some of his former self.

BRANDON WEBB: The 2006 Cy Young Award winner has been plagued by injuries for the majority of the past two seasons and hasn't thrown in a major league game since 2009. Prior to his injuries, Webb was one of the marquee arms in all of baseball, following up his Cy Young year with a combined 40 wins the next two seasons.

Webb used to be the benchmark for durability, logging 200-plus innings from 2004-2008, but heads into free agency having only thrown four innings since. However, Webb will come at a discounted price from the $8.5 million he was getting paid not to pitch with the Arizona Diamondbacks last season and, if he happens to regain some of his old form, he could become a very worthy investment.

ERIK BEDARD: The oft-injured 31-year-old has become somewhat of an enigma, as he frequents the disabled list, but is effective when healthy. Bedard was well on his way towards becoming one of the best left-handers in the game, but has been unable to take any steps forward after a stellar 2007 season, due to a number of injuries. The Seattle Mariners have fallen victim to what could have been, as the Canadian has made all of 30 starts since 2008, while missing the entire 2010 season. However, if Bedard can stay healthy, or even manage to register 20 starts in 2011, he could provide front-of-the-rotation-type stuff when he's on the mound.

Bedard posted an ERA below four from 2005-2009, including a 3.16 ERA in '07, when he struck out 221 batters for the Baltimore Orioles. The lefty has never reached the 200 innings threshold in a season, but still has all the right tools to win games.

JEFF FRANCIS: In 2007, Francis was a big reason behind the Colorado Rockies' Cinderella playoff run to the World Series. The lefty anchored a surprisingly solid rotation while winning a career-high 17 games. However, there was no carryover the following season, as Francis finished with an ERA on the wrong side of five before being shut down for the year to undergo surgery on his shoulder. The operation forced Francis to miss the 2009 season, but after bouncing back to log more than 100 innings pitched in 2010, he's likely to have a number of interested parties, despite his inconsistency this past season (6-7, 5.00 ERA).

CHRIS YOUNG: In his first two years with the San Diego Padres, starting in 2006, Young had consecutive seasons with an ERA lower than 3.50 and WHIP under 1.15. That's what made him an All-Star in 2007, but, unfortunately, a freak injury (Young took a line-drive off his nose in May 2008) started a string of injuries that promptly ended his march towards top-tier status.

Young has started only 32 games since 2008 and was limited to just four appearances last season. Albeit a small sample size, the righty was 2-0, with a 0.90 ERA and 1.05 WHIP over four starts in 2010. While he was never known as a power-pitcher, the mid-80's fastball he showcased last year, combined with a history of injuries, is likely to scare off a number of potential suitors. Nonetheless, he's worth an audition and will come at a considerably cheaper price than the $6.3 million he made last season.

JEREMY BONDERMAN: Bonderman enjoyed a semi-productive season in 2010 -- in the sense he actually pitched. He managed to stay on the mound and, at times, showed that he can still be a quality major league arm. It's still a far cry from what his prospects looked like only a few years ago when the flame-thrower was an instrumental part of the 2006 Detroit Tigers World Series team, but, for now, it's a start.

Bonderman has endured quite the roller coaster of a ride over the past few seasons and after starting 29 games in 2010, he's a little different from the rest of the arms on this list. After posting a 14-8 record with a 4.08 ERA and 202 strikeouts in 2006, he regressed the following year before missing the majority of the '08 and '09 seasons. He's still only 28 years old, and after turning in some impressive starts in what was otherwise a rough year (5.53 ERA), there are worse options.

Aside from Cliff Lee, there is no such ace available on the open market, and the drop-off in quality is rather significant. History will show that not all of these arms are likely to stay off the shelf during the 2011 season, but based on the likely reluctance of teams to offer a multi-year deal, they could be well worth the gamble. At the very least, it's a more economically feasible alternative than overpaying on a multi-year deal for an average-to-below-average arm.